SLT Holdings LLC Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

SLT Holdings LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,244 shares of the cryptocurrency exchange’s stock, valued at approximately $805,000.

Several other institutional investors also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter valued at about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares during the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at about $50,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 1.5 %

COIN stock opened at $217.45 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $262.21 and its 200 day moving average is $241.45. The stock has a market cap of $55.21 billion, a price-to-earnings ratio of 22.89 and a beta of 3.66. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Mizuho dropped their price objective on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Rosenblatt Securities assumed coverage on shares of Coinbase Global in a report on Friday. They set a “buy” rating and a $305.00 price objective on the stock. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $311.21.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 over the last ninety days. Insiders own 23.43% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.